April 2003 issue

The Davos-based World Economic Forum (WEF) announced that it will convene an Extraordinary Annual Meeting in Jordan. The Meeting, which will bring together more than 1,900 business, political, religious, academic and other leaders from around the world, will take place from 21 to 23 June under the theme "Visions for a Shared Future."

"This event is taking place at a crucial time for the Middle East and for the world," said His Majesty King Abdullah II, who will host the three-day Meeting at a location on the Eastern bank of the Jordan Valley. "Let us refocus our energies on peace. It is time to show the world that the Middle East is ready for reform, development and growth. It is time to redouble our efforts to make sure there is peace in the region."

Klaus Schwab, Founder and President of the WEF, stressed the importance of this unprecedented extraordinary session, "Never before in my 32 years of convening World Economic Forum meetings have I seen a period when dialogue among world leaders was more necessary”. “Jordan was a very appropriate place to begin this important dialogue because the country is a leader in political, economic and social reforms in the Middle East.” the WEF said. “We very much appreciate the positive role that Jordan has played in the quest for peace, and the leadership that His Majesty King Abdullah has demonstrated,” Schwab declared. 

UN agencies regard Jordan as aid corridor

The United Nations humanitarian coordinator for Iraq said that Jordan would be a key corridor for aid moving into Iraq as the organisation begins to send small groups of staff back into the war-torn country. UN Humanitarian Coordinator Ramiro Lopes da Silva said Jordan is a “strategic platform” and “key transit corridor” for aid into Iraq. The UN and other groups have stockpiles of food, blankets and other humanitarian aid stashed in various locations around the Kingdom. Massive humanitarian efforts are planned by various aid organizations but most have been sidelined as they wait for Iraq to become safe enough to enter. 

Jordan’s field hospital reaches Baghdad 

Jordan has sent a field hospital to Baghdad to offer medical aid and treatment to the Iraqi people. The hospital is operating around-the-clock in the western suburbs of Baghdad.  The decision to set up the field hospital was taken by King Abdullah II who has also instructed hospitals across the kingdom to stand ready to receive wounded and patients from Iraq. Jordan also has donated $1.69 million worth of drugs and has already dispatched a first batch to Iraq.

RJ is ready for Baghdad

Royal Jordanian Airlines is expected to be the first carrier to reach Baghdad after the war. Samer Al Majali, RJ’s CEO, announced that RJ is ready to resume its flights to Baghdad soon after the UN sanctions are lifted. Al Majali said RJ would operate a daily flight to Baghdad in the first few weeks to support deliveries of international aid agencies humanitarian assistance to the Iraqi people. Such aid would include food and medical supplies. RJ used to operate four flights a week to Baghdad under an agreement with the UN Security Council before the war. These were suspended after the attack on Iraq on 20 March.

SSC Identifies investment projects in Aqapa

The Social Security Corporation (SSC) has decided to direct part of its investments to opportunities available in the Aqaba Special Economic Zone (ASEZ).  The SSC will invest $140 million in a number of projects in fields like housing, grand commercial centres, infrastructure and tourism at ASEZ. The SSC has already invested in mega tourism schemes in the Red Sea resort through its investments in the Jordan Company for Development of Tourism Projects, which is now constructing a five-star hotel, among other tourist facilities.

E-Learning in Jordanian Schools, turning into Reality

The first Jordanian computer lab running ITG’s EduWave e-learning platform was recently inaugurated. At the inauguration, twenty high school students and teachers were present to live-test EduWave and its applications on their computers in the classroom. "I found EduWave to be very user friendly" one of the students said as she smiled. "It will really help us in our studies and will give us the opportunity to further comprehend complex concepts and applications". 

The Integrated Technology Group (ITG) has successfully delivered phase-one of its e-learning platform EduWave, as part of its agreement with the Ministry of Education and the King Abdullah II Fund for Development. The agreement mandates ITG to deploy EduWave at the Ministry’s data centres that interconnect about 3200 schools and about 1.5 million students. 

Cabinet endorses labour agreements

The government has endorsed three international labour agreements recently signed by the Ministry of Labour and the International Labour Organisation (ILO). The agreements are intended to enhance the cooperation between Jordan and the ILO and to improve the country's reputation amongst the organization’s member’s states. One agreement deals with trilateral negotiations to boost the implementation of international labour standards, the other one deal with labour administration. The third agreement deals with vocational rehabilitation for people with special needs. 

Rescheduling debts

About $47 million of Swiss and Italian debts to Jordan were rescheduled. These debts are part of the $72 million and $39 million Italy and Switzerland made to the Kingdom respectively. Finance Minister Michel Marto said debt rescheduling aims at easing the financial burden and sustaining the government strive to lessen the repercussions of Iraq war on the economy. Jordan’s foreign debt is $7.5 billion. The Kingdom signed agreements with France, Germany, Britain, Spain, Austria, Belgium and the United States to reschedule debts worth $987 million. Marto said more agreements are expected soon as part of Jordan’s earlier understandings with the Paris Club in late 2002. 

Potash’s profits slope 

Arab Potash Company (APC) profits in 2002 declined by half to $21.69 million in comparison to 2001. This was attributed to the company’s earlier takeover of the Al Safi Salt Company last year. APC also endured a 3.2% loss in its revenues to $203.80 million. The company produced last year two million tons of fertilizers and minerals. The government has recently launched talks to privatize the company by selling 26% of its shares in it. 

JPMC’s profits soar 

The Jordan Phosphates Mines Co (JPMC) made $7.9 million in profits for the year 2002, the highest in the last years and at an increase of 38% over 2001. The company’s sales also increased in 2002 by 3.6% to $279.29 million. JPMC produced approximately 6 million tons of phosphates last year, two thirds of which went to foreign markets. JPMC decided last week to sell its entire 10.5% shares holding in the Pakistan-Jordanian fertilizers company’s capital of $111 million. 

Exports increase by 23%

Exports rose by 23% during the first two months of 2003 to $323.9 million compared to $263.3 million during the same period last year. Imports also rose by 17% to $767.6 million from $656.3 million while re-exports fell slightly by 1% to 95.7 million from $97.1 million. According to figures issued by the Department of Statistics (DoS), textiles accounted for 27% followed by potash exports that accounted for 10% or JD22 million. The DoS figures also revealed that 24%, the largest portion of the country's exports went to US market followed by exports to Iraq at 16%.